NordLB gives nothing away but hits Eu1bn
Orders on NordLB’s Eu1bn March 2012 public sector Pfandbrief had reached Eu1bn by midday at price guidance of 3bp under mid-swaps, as the deal faced stiff competition in the market from competitors, and some market participants said the pricing looked rich. Meanwhile German supply is set to increase further, with HVB mandating a new jumbo this (Wednesday) morning.
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